Automate GRC Management in One Centralized Audit, Risk and Compliance Technology Solution.
ViClarity Insurance Solutions
In recent years, the Insurance industry has seen a large increase in regulatory requirements mandated by both state and federal agencies. On top of new regulations being introduced, many regulations such as GLBA, CFPB, HIPAA, State Exchange Rules, Market Conduct Regulations, NAIC Model Audit Rule and many other guidelines are frequently updated. Insurance organizations are met with the challenge to keep up in this ever-changing regulatory landscape.
ViClarity's award winning Audit, Risk & Compliance Technology Solution alleviates the burden of managing risk and regulatory compliance for your insurance business. The cloud-based, easy to use software can integrate all your risk management, policy management, compliance management, vendor management and much more in one centralized solution. The ViClarity solution is tried and tested by insurance and captive insurance organizations all over the world.
From assessing individual risks to monitoring key risk indicators (KRI's) and controls, ViClarity brings all of your ERM information together in one end to end solution With an online Risk Register all risks are centrally cataloged and scored on a color-coded dashboard simplifying analysis and providing reports on demand.
- Risk & Control Library – Choose from ViClarity’s large range of up-to-date sample risks and controls or choose to customize to suit your organization's risk processes.
- Reports on Demand – Real-time reports and color-coded interactive executive dashboards score your organization's top risks, display task completion, trends, weaknesses and emerging risks.
- Automated Risk Data Collection & Collation – Risk owners input their risk and control data in one centralized tool. This information is collated and accessible to easily perform risk assessments, track and monitor mitigations and generate reports.
Automating all areas of ERM including:
- Risk Registers
- KRI Tracking
- Risk Events
Spend less time chasing data and more time analyzing it with ViClarity's automated Compliance Management solution.
- Regulatory Templates – Choose from a prepopulated compliance templates or customize with your organization’s current compliance framework within the solution.
- Real-Time Compliance – Analyze compliance in real-time on ViClarity’s live dashboards allowing for immediate identification of non-compliance. Trackable actions can be assigned and managed through the system or reported on to easily identify trends or movement over time.
- Satisfy The Regulators – Prove compliance to regulators and present compliance reports to the board with one click, highly configurable reports and dashboards.
Supporting compliance management for:
- State Exchange Rules
- Market Conduct Regulations
- NAIC Model Audit Rule
- And more
ViClarity’s Vendor Management solution is a central repository for all vendor information. To help you thoroughly manage increased third-party risks, this online platform enables you to track and monitor all vendors, to conduct onboarding due diligence and schedule ongoing reviews.
- Automated Vendor Tasks – Spend less time managing and reviewing individual vendor spreadsheets by automating the process with ViClarity. Risk areas are automatically flagged saving you time finding them on spreadsheets.
- Higher Compliance – Ensure higher compliance rates by mapping vendor controls and assessments to regulations and internal policies.
- Vendor Classification – Identify your most critical vendors and their associated risks through our intuitive and third-party risk assessments.
Supporting your organization's processes:
- Vendor Due Diligence
- Vendor Onboarding
- Vendor Risk Assessment
- Vendor IT Questionnaire
- Annual Vendor Review
The ViClarity Policy Management solution provides a central online repository for all organization policies and procedures. The solution ensures all policies are kept up-to-date by automatically prompting policy owners when reviews are due. Once reviewed, policies can be shared with staff members to initiate/track staff declarations/sign-offs. Where required, there is also the optional ability to ask employees test questions about the policies and track the results.
- Version Control – Update policies within the system and be confident staff are reviewing only the latest version.
- Document Storage – Store an unlimited number of files and versions of policies on the ViClarity platform.
- Policy Sign-Off – Email notifications remind staff members to review new policies and track their review status through live analysis.
- Multi-User Access Levels – Pick and choose which employees can review policies by department, job role, location, etc.
- Policy Development
- Policy Sign-Off
Track all details of incidents quickly and easily with ViClarity’s end-to-end Incident Management solution. The automated nature of logging and reviewing incidents allows for quicker resolution by removing the lag time associated with manual processes. Choose from a library of incident forms or build your own incident forms into the platform.
Incident and Complaint Solution Features:
- User-Friendly Logging – Users can easily log incidents from a laptop, tablet or smartphone. The intelligent workflow-based nature of the incident management solution ensures that the correct members of the management team are automatically prompted when incidents need to be reviewed and signed off on.
- Real-Time Analysis – All incidents and their status to remediation are displayed in a centralized dashboard for management review.
- Built-In Action Tracking – The solution comes with a full action tracker allowing managers to assign actions to rectify the incident. These actions can be assigned owners and fully tracked to closure ensuring the incident is remedied.
Contact us to learn more about the other great solutions ViClarity offers including:
- Complaint Management
- Board Management
- Strategic Management
- BCP/Disaster Recovery
- Corporate Governance
- Options for customization